Oil prices is trying to stabilize around USD 30 . However given the supply demand situation more needs to be done by the Oil producing countries to support the prices .
US markets moved up yesterday as they were catching up after Monday's holiday.
Indian markets failed to sustain the rally started on Monday and came off sharply .Overall the market continues to make lower tops and lower bottom , confirming the downward trend .
In order for the market to sustain at current levels or move up further we need new positive news flows :
We believe the budget for India will be very crucial this year . It will either make or break the Indian equity market . As lot has said about India growing everyone will waiting to see if action follows words .
On the global front China and Fed will continue to add volatility .